Nike in a letter to employees warned of layoffs as the company shifts resources to invest in high-potential growth opportunities, including digital.
Category: Sports/Fitness
USA Triathlon Foundation Awards $110,000 In COVID-19 Relief Fund Grants
The USA Triathlon Foundation announced the grant recipients for the COVID-19 Relief Fund, established in April, to support members of the multisport community who have been impacted by the virus. More than $110,000 will be dispersed to 40 organizations and individuals.
Deckers Brands Appoints Independent Director
Deckers Brands announced the appointment of Victor Luis to its Board of Directors. Coinciding with this appointment, Deckers also announced that James Quinn has resigned from its Board.
Golf Rounds Played Bounce Back In May
Golf rounds in May recovered to show a year-over-year gain of 6.2 percent as golf courses reopened across the country according to Golf Datatech. For the year-to-date period, rounds played are down 8.0 percent.
World Gym Hires Two To C-Suite
World Gym International has appointed Lewis Stanton as chief executive officer. Jarrod Saracco has been named chief operations officer.
Amazon Buys Rights To ReName Seattle’s KeyArena To Climate Pledge Arena
Amazon announced that it has secured the naming rights to the new home of Seattle’s NHL team and WNBA’s Seattle Storm, and is calling it Climate Pledge Arena rather than the name of the company.
Ping Signs Sahith Theegala
Ping signed Sahith Theegala, winner of the 2020 Haskins Award as the best player in men’s college golf, to an endorsement contract.
GOB Sale Resumes At 107 Modell’s Locations
Modell’s Sporting Goods has resumed going-out-of-business sales at 107 of its remaining stores, beginning immediately.
Nike Reports $790 Million Quarterly Loss
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion.
Iconix Agrees To Sell Starter China
Iconix Brand Group Inc. said in a regulatory that it agreed to sell Starter China Limited for $16.0 million. The Starter China sale includes the sale of the Starter brand in the mainland of China, Hong Kong, Taiwan and Macau.
IHRSA Releases Four-Pronged Framework Guiding Gym Re-Openings
IHRSA (International Health, Racquet & Sportsclub Association) detailed the Four-Pronged Framework clubs are using to plan safe reopening protocols while working with local health boards.
Hibbett Sports Opens Winston-Salem Store
Hibbett Sports announced the opening of the newest Winston-Salem, NC store located at 1223 Silas Creek Parkway in Parkway Plaza.
Under Armour Extends Sponsorship With Texas Tech
Under Armour agreed to a four-year sponsorship extension with Texas Tech University, according to a report from the Baltimore Business Journal.
NCAA Study Finds Student-Athletes Thrive In Life After Graduation
An NCAA study finds that college graduates who participated in NCAA athletics enjoy a host of positive long-term life outcomes at greater rates than non-athletes, among them wellbeing.
Australian FItness Giant F45 To Go Public In U.S. After Merger
Australian fitness chain F45 Training will go public in the U.S. after reaching a deal to be acquired by Crescent Acquisition, a special purpose acquisition company backed by investment firm Crescent Capital. F45’s Co-founder and Chief Executive Adam Gilchrist will continue to run the fitness chain.
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